My partner and I are acquiring a newly built apartment in Epsom and Ewell and my conveyancer is informing me that she has to the lender to disclose incentives from the seller. The Estate Agents are hassling me to exchange contracts and I have no desire to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We are close to exchanging contracts on the sale of our house in Epsom and Ewell and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A high street Epsom and Ewell conveyancer would know this is not the case. For the life of me I don't know why the purchasers instructed a factory type conveyancing practice as opposed to a conveyancing solicitor in Epsom and Ewell. Having lived in Epsom and Ewell for 4 years we know that this is a non issue. Should we contact our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing firm already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Epsom and Ewell is the location of the property. Can you shed any light on this issue?
Flying freeholds in Epsom and Ewell are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Epsom and Ewell you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Epsom and Ewell may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
What does commercial conveyancing in Epsom and Ewell cover?
Commercial conveyancing in Epsom and Ewell incorporates a broad range of advice, offered by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I've recently bought a leasehold property in Epsom and Ewell. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a basement flat in Epsom and Ewell. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
Absolutely. We can put you in touch with a Epsom and Ewell conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Epsom and Ewell property is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case related to 1 flat. The unexpired lease term was 60.43 years.
At what point do I pay the Stamp Duty Land Tax due for my house transaction in Epsom and Ewell?
The majority of lawyers tend to complete a Land Transaction Return Form on your behalf as part of your Epsom and Ewell conveyancing transaction for signature. After completion your conveyancer will submit the STL Return Form to the Inland Revenue and - as long as they have the funds - pay any Stamp Duty due on your behalf.